Six bowls in pool for college football semifinal games

Sources said the group is close to finalizing the revenue distribution deal for the new playoff. The oversight committee gave the commissioners authority to finalize a media rights deal with ESPN. It is projected to be worth about $500 million a year over 12 years, Sports Business Journal reported.

The SEC, Big Ten, Big 12, ACC and Pac-12 will receive the biggest chunk of the new revenue. Each of those leagues will receive the same base amount of revenue, sources said. The remaining "Group of Five" leagues -- Big East, C-USA, MWC, Sun Belt and MAC -- will split a smaller amount among themselves. How the "Group of Five" will divide that revenue is still to be decided.